Chris Dodd Could Learn A Thing Or Two From Vladimir Putin

Chris Dodd may believe in the power of one, but not Vladimir Putin. While he was actually addressing the role he sees for the Russian state going forward, he might as well have been addressing Dodd's continued enthusiasm for a single banking regulator.

"We understand how deceptive blind faith in an omnipotent state is, how illusory are the hopes that total intervention in economic life might fix everything and put everything in its place," Mr. Putin said. To the extent that the situation stabilizes, that the effects of the crisis are overcome, we plan to consistently and purposefully reduce state intervention in the economy," he said.